RE: Steemit is not decentralized and it's causing a retention problem. Why not give some power to the people that earn it? Here's my suggestion.
I really appreciate your efforts.
I do fundamentally disagree with you. I don't think whales are a problem and I don't think we have centralization issue. Yes there are very rich people here but there always will be rich people that have more power as a result of it.
What is a problem is the exponential reward system. That is the reason that smaller sp holders have little impact.
If someone is 100 x as rich as I am his voting power over me is not 100 as high. It is exponentially higher.That is what makes steem unfair and concentrates rewards to very very few. Anything else has pretty much no impact. In other words even if we would get rid of SP voting and somehow would
have Sybil attacks solved, steem would work just the same as now, with very few getting huge rewards.
This is an excellent observation. If the scaling curve were reduced for rewards it would balance things out over time. Also changing this wouldn't violate anyone's holdings; it's only a policy change, an adjustment of the platform's distribution of power between those with a lower stake to those with a higher one.
Yes, this is an interesting observation that I wish I could confirm or write off.
Would you be so kind as to have a look at my idea related to these issues? I think it would really go a long way towards making the system a whole lot better, because it would impact so many areas. It is however not a complete solution towards any particular problem.
https://steemit.com/steemit/@hilarski/steemit-referral-program-and-incentives#@the-ego-is-you/re-hilarski-steemit-referral-program-and-incentives-20161224t190500192z